Excalipoint Therapeutics has secured an oversubscribed $68.7 million seed financing round to accelerate the development of its next-generation T-cell engager (TCE) therapies, marking one of the largest early-stage biotech fundraisings in China. The capital will support the company’s proprietary technology platforms and a growing pipeline of innovative immunotherapy programs targeting cancer and autoimmune diseases.
The financing includes an initial $41 million seed round completed at the company’s launch in August 2025, co-led by HSG, Apricot Capital, and Yuanbio Venture Capital. Additional investors in this round included 5Y Capital, Co-Win Ventures, Med-Fine Capital, and Hony Capital.
Following rapid operational scaling and early clinical progress, Excalipoint raised a further $27.7 million extension round. This tranche was co-led by MPCi and Centurium Capital, with participation from global healthcare investors including Lilly Asia Ventures and Eisai Innovation Inc.
Founded by Lei Fang and Jielun Zhu, Excalipoint has quickly positioned itself as an emerging player in immuno-oncology. The company is built on a “NewCo” model that integrates experienced leadership, scientific innovation, and venture capital to accelerate drug development timelines.
At the core of Excalipoint’s strategy are three proprietary platforms—TOPAbody, T-Cell Immune Shield, and TCE Probody—designed to overcome longstanding challenges associated with T-cell engager therapies. These include improving tumor targeting, reducing toxicity, and enhancing durability of response. The technologies also aim to address biological barriers such as the tumor microenvironment and so-called “cold” tumors that typically resist immune-based treatments.
The company’s pipeline now includes six differentiated programs, several of which are tri-specific antibodies engineered to target multiple pathways simultaneously. Its lead candidate, EXP011 (CTM012), is being evaluated in a Phase I/II clinical trial for small cell lung cancer and other aggressive malignancies, with the first patient dosed in October 2025. Additional programs are targeting gastrointestinal cancers, solid tumors with high unmet need, and even IgG-associated autoimmune diseases.
Excalipoint executives say the funding will enable the company to expand its clinical efforts while pursuing strategic partnerships and out-licensing opportunities. Investors have highlighted the firm’s rapid progress, noting that within six months of launch, it has expanded both its platform technologies and clinical pipeline.
The strong backing from both domestic and international investors reflects growing confidence in China’s biotechnology ecosystem, which is increasingly seen as a critical driver of global innovation in drug development.